Breaking News
Translate

Group Plans Class Law Suit against Bank Charges

Citizens Against Exploitation, CAE, has said that it will institute a class law suit against Central Bank of Nigeria,CBN and individual banks for alleged illegal and fraudulent deductions from bank accounts.

In a statement by the group, it argued that ‘it appears what is left to steal is now our individual sweat not in agreed taxation but through levies, charges, and all sorts that are alien to regular banking practices anywhere in the world, from our bank accounts’.

Read statement below

It is unfortunate when a nation has as leaders, individuals that lack vision, and are not creative enough to turn the fortunes of the country around for the better.

In the past, in fact since 1960, our collective wealth from our resources have been stolen with nothing to show for it.

Today, the dynamics is changing with oil produced at a loss, it appears what is left to steal is now our individual sweat not in agreed taxation but through levies, charges, and all sorts that are alien to regular banking practices anywhere in the world, from our bank accounts.

A boycott banking services protest was called for on 1 March 2016 but it appeared it was not as effective as it should have been and the government through its agent, the CBN has come up with more charges. To that is the question asked, would these charges continue in different forms till our actual monies in our personal accounts be converted to government’s money.

This is a call for a more decisive action to once and for all stop these arbitrary and illegal charges from our accounts.

In the next few days, we would send out a form to carry out a class action against CBN and the individual banks for these illegal and fraudulent deductions from our accounts.

Lawyers who are willing to also participate in this should indicate their interest for this history making judicial action.

 

 


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.